Prem Watsa’s Fairfax India to invest $300 mln in Sanmar Chemicals

Fairfax India Holdings Corp, part of Canadian billionaire Prem Watsa's Fairfax Holdings, said it would invest $300 million in privately held Indian petrochemical company Sanmar Chemicals Group through combination of equity and fixed-income securities.

Indian-born Watsa, whose main investment firm is Fairfax Financial Holdings, has previously said he is enthused about India?s growth prospects due to Prime Minister Narendra Modi?s economic reform agenda.